Collaboration between ShuttleOne and Tezos Network
Hello guys!
What is ShuttleOne?
ShuttleOne is a decentralized financial solutions protocol that combines artificial intelligence and blockchain technologies to address the fragmentation issues plaguing the DeFi industry. It provides a unified, multichain compatible platform for DeFi and Web 3.0 application development.
The Update…
Tezos, a highly scalable, self-amending proof of stake blockchain protocol, was recently adopted by ShuttleOne. The upcoming launch of its native $SZO token on Tezos via the Instaraise IDO platform signified this adoption.
In a digitally connected world, Tezos is redefining what it means to hold and exchange value. Tezos, a self-upgradable and energy-efficient blockchain with a proven track record, adopts tomorrow’s innovations without causing network disruptions today. Tezos is well-known for its scalability, low transaction fees, top security standards, and self-amending nature, which allows for easy upgrades without forks or network disruptions.
ShuttleOne has developed the Metachain as part of its ambitious project to develop a unified interface for dApps and Web3.0 applications that allows them to operate on multiple blockchain protocols. The ShuttleOne Metachain is a multichain aggregator that allows users to create blockchain-based applications on a single interface and run them on any supported blockchain without modifying the product. Instead, they can use a single API to connect their application to multiple blockchains, resulting in truly interoperable dApps. Metachain bridge, a decentralized multi-blockchain two-way bridge, and ShuttleOne’s native $SZO utility and insurance token will facilitate the interoperability between different blockchains.
What does this collaboration mean for ShuttleOne and Tezos ?
ShuttleOne has chosen to operate on three different networks at the moment: Ethereum, Binance Smart Chain, and the Tezos blockchain. Tezos’ early inclusion as a Metachain supported blockchain, combined with the introduction of $SZO on Tezos, makes the protocol easily accessible to hundreds of DeFi and NFT projects that are currently constrained by the Ethereum Network’s limitations. It will also assist Tezos-based solutions in adopting the Metachain in order to reach a larger audience. ShuttleOne is gearing up to release the world’s first two-way blockchain bridge, connecting the Ethereum, Tezos, and Binance Smart Chain networks.
When a Metachain dApp uses the Tezos Network, it is required to pay transaction fees, which are paid in $SZO and settled by ShuttleOne as a native Tezos token. With the Tezos protocol’s adoption expected to rise, cross-chain liquidity is expected to rise in the coming days. Aside from transaction fees, the Metachain bridge supports asset transfers from one blockchain to another, allowing Tezos-based DeFi projects to bridge stablecoins such as USDT, USDC, DAI, and others to increase liquidity on the Tezos chain.
Even better news…
ShuttleOne launched its $SZO token offering in collaboration with Instaraise, Tezos’ first decentralized fundraising and incubation protocol. On the Tezos ecosystem, Instaraise is a completely decentralized fundraising and incubation platform. The platform aims to empower projects by providing a solid foundation and fundraising capability, as well as impactful marketing advice, community growth, and ecosystem development assistance.
The $SZO IDO was scheduled to go live on December 12, 2021, at 12 p.m. UTC. The process was a 24-hour token offering with two rounds lasting 12 hours each, with the participants receiving a total of 200,000 $SZO.